02/28/2022
General Assembly Adopts New Income and Principal Act
On February 21, 2022, the Virginia General Assembly completed passage of HB 370 which adopts the Uniform Fiduciary Income and…
02/21/2022
IRS Announces Inflation Adjusted Figures
On November 29, 2021, the IRS issued Revenue Procedure 2021-45, providing inflation-adjustments for various provisions of the Internal Revenue Code. …
02/20/2022
Gift to Spouse Recharacterized
In Smaldino v. Commissioner, the Tax Court ruled that a husband’s transfer of a 41% membership interest in a limited…
02/18/2022
New Retention Policy for Estate Tax Returns
The IRS recently announced that effective February 11, 2022, it will no longer keep estate tax returns for 75 years…